The definition of value
V = F / C (1)
V = value
F = function
C = cost
is the key to Value Engineering.
Improving the function, reducing the cost, or both - will increase the value.
Documentation of process control systems - Block Flow Diagrams (BFD), Process Flow Diagrams (PFD), Piping and Instrumentation Diagrams (P&ID) and more
Engineering related topics like Beaufort Wind Scale, CE-marking, drawing standards and more.
The future value of money.
Verifies that a product is designed to the appropriate standards according the European Machine Directive.
Commonly used engineering and construction contracts.
Future value of money vs. inflation.
Internal Rate of Return (IRR) - the break-even interest rate.
Profit vs. markup.
The value of a stream of payments is called the Net Present Worth (NPW).
The value of money in the future is the Present Value.